TUNIS – Common Market for Eastern and Southern Africa (COMESA) Assistant Secretary General Mohamed Kadah said that Egypt acquired 40.97% of foreign direct investment flows into member states in 2022.
Egypt was followed by Uganda (3.9%), Libya (2.4%) and Zimbabwe (1.9%), he added in an address to COMESA Investment Forum (CIF 2024) currently in session in the Tunisian capital, Tunis.
The volume of FDI in COMESA member states hit 23 billion dollars in 2022, marking an increase by 52% from 2020 and by 43% in 2021, Kadah further mentioned.
Capital investment jumped 2.5 fold in Africa in 2022 compared to that recorded in 2019, he said.
In 2022, as many as 734 foreign direct investment projects were announced in Africa, compared to 517 a year earlier, according to him.
